• Crypto.com Coin Increases by 25% as Firm Aims for Mainstream Adoption

  • Crypto.com’s native token CRO has gained another 25% after becoming the first cryptocurrency platform to achieve SOC 2 compliance, extending its multi-week rally. Earlier this month, Crypto.com announced that it had purchased the naming rights to the Los Angeles Lakers’ home arena.

    Crypto.com Coin Approaches $1

    The native token of Crypto.com is soaring as a result of a slew of major announcements.

    CRO gained 25% on Tuesday after the exchange successfully completed a Service Organization Control (SOC) 2 audit.

    The audit, conducted by the internationally renowned consulting firm Deloitte, confirms that Crypto.com’s information security practices, policies, procedures, and operations meet all SOC 2 standards. Crypto.com is the first cryptocurrency exchange to be SOC 2 compliant.

    The SOC 2 compliance has helped CRO gain 384 percent in the last month, and it is only the most recent development in a string of bullish catalysts.

    Crypto.com announced a $100 million advertising campaign at the end of October, releasing its “Fortune Favors the Brave” advertisement starring actor Matt Damon. The exchange also made headlines last week when it paid $700 million for the naming rights to Los Angeles’ iconic Staples Center, renaming it the Crypto.com Arena in a 20-year deal.

    Crypto.com is also working to improve the user experience. The exchange announced support for deposits and withdrawals on Cronos, a new, scalable EVM-compatible chain developed by the Crypto.org team, at the beginning of November. Cronos will collaborate with the existing Crypto.org Chain to scale the DeFi ecosystem by allowing developers to quickly port apps from Ethereum and EVM-compatible chains.

    Because of the recent price increase, the CRO is now the 12th largest cryptocurrency by market capitalization. The coin is currently trading at $0.93 and is rapidly approaching the $1 mark. It remains to be seen whether it will be able to break through this strong psychological barrier.

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